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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
 
 
 
 
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
 
 
 
Home » Glossary » What is Project Inefficiency?
What is Project Inefficiency?   

What is Project Inefficiency?



 
 

 Project Inefficiency is a situation in which it is possible to generate a greater amount of project effect or outcome from available resources allocated to the project. It characterizes imbalance between desired outcome and actual outcome in terms of resource consumption.

 A project becomes inefficient when it fails to follow Pareto Principle. As appears from this Principle, an inefficient project is a project in which the actual results could be better because they do not meet preset expectations and needs. Hence, the project fails to utilize available resources in the way that ensures more efficient results.

 Meanwhile, project inefficiency does not mean project failure. Even an inefficient project can be successful. Such a project meets goals and objectives and thereby reaches success but still remains inefficient because desired results (deliverables) are not produced. In this content, project inefficiency relates to deliverables but not to goals and objectives.

 Status and acceptability of project deliverables are two major parameters that are linked to project inefficiency. If deliverables of some project are produced according to user specifications, acceptance criteria, and resource requirements (time, cost, technology, others), then this project can be regarded as efficient. In case at least one of the conditions is not met, the project turns to be inefficient.

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